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1.00 Well-Being

QuestionAnswer
A goal that will be attained in more than one year Long-term goal
Something a person intends to acquire, achieve, or accomplish in the future Goal
Specific objectives that are accomplished through financial planning Financial Goals
A goal that will be attained in less than one year Short-term goals
The value of the next best alternative that must be forgone as a result of a decision Opportunity Cost
Good or services that are required for survival Need
The value of the next best alternative that must be forgone as a result of a decision Trade-off
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual Value
The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival Want
Managing money continuously through life in order to reach your financial goals Financial planning
Jenna wants to improve her financial well-being what can contribute the most to her financial well-being take a personal finance class to learn how to manage her money
Jacob is wondering how he can improve his intellectual well-being. How can he contribute the most to his intellectual well-being Challenge himself by taking on a new project at work
Sylas is making a financial plan in one of his classes. When should the end of his financial planning timeline be set? Never
To be happy with what you have Well-being
Does increasing investment risk and reduce your ability to cope with risk and uncertainty No
Created by: Krillxen